Yes Bank shares tumble over 20% in two weeks amid AT-1 bond shock: Is more downside ahead? Here's what experts say

Yes Bank shares have fallen 21.23% in two weeks and 30.60% over the past month after the Supreme Court upheld the Bombay High Court decision to set aside the 2020 write-down of its AT-1 bonds worth Rs 8,415 crore, creating uncertainty over the bank's capital adequacy and future liabilities. Brokerages turned cautious, with Nuvama cutting its target price to Rs 16 from Rs 22 and JM Financial trimming its target to Rs 17 from Rs 22, both maintaining 'Reduce' ratings. JM Financial cut its FY27 EPS estimate by 148% and warned the ruling could pull the CET1 ratio down to around 11.4% from 13.7%, potentially bringing forward the need for a capital raise, with a possible SMFG infusion being a key factor to watch.